Since the election of Ronald Reagan in 1980, American politics has been dominated by the idea that free markets are the most effective way to organize economic activity. Private firms, disciplined by the competitive rigors of the market, are forced to innovate, adapt, and become more efficient in order to outpace rivals, continuously satisfy consumers, and meet new demands. Government, in this view, is the problem : regulation, taxation, and policy interventions disrupt open competition, stifle innovation, and breed inefficiency. But the dirty secret behind the facade of the Washington consensus is that over the last four decades, government programs and policies have quietly become ever more central to the American economy. From basic research to commercialization, the fingerprints of government can be found in virtually every major industrial success story of the late 20th and early 21st century. This volume provides the first comprehensive account of the depth, magnitude, and...

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